The proposal comes at a particularly sensitive time for the Marcy-Holmes neighborhood, which until recently has managed to avoid much of the high-density, high-rise development that's happening elsewhere in the city.

More people in the Twin Cities are opening their homes to overnight guests — but it's still a relatively shy place. Airbnb said that 600 people in Minneapolis hosted 33,400 guests in the past year, more than twice the previous year.

The building sits square in the middle of where Alatus, a Twin Cities-based developer, wants to build a 40-story condo tower at 200 Central Av. SE. Though it was once the St. Anthony Commercial Club, the 1929 building is better known for housing a Washburn-McReavy funeral home.